Bill Ackman - Pershing Square Capital Management 13F Activity & Position Changes (Q3 2019)

As of Sep 30, 2019, the Pershing Square Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2019, the filing reported:

New Buys - None reported

Increases - Berkshire Hathaway Inc. New

Reductions - Chipotle Mexican Grill, Inc., Hilton Worldwide Holdings Inc., Lowe's Companies, Inc., Restaurant Brands International

Complete Exits - Automatic Data Processing, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2019	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell - Position Exit	-4,029,526	-100.0%	$0.00	-
Q3 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+502,597	+14.3%	$835.32K	4,015,594
Q3 2019	CMG Chipotle Mexican Grill, Inc.	Chipotle Mexican Grill, Inc.	Sell	-58,400	-3.3%	$1.45M	1,724,310
Q3 2019	HLT Hilton Worldwide Holdings Inc.	Hilton Worldwide Holdings Inc.	Sell	-409,446	-3.7%	$982.94K	10,556,805
Q3 2019	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Sell	-287,323	-3.2%	$947.11K	8,613,212
Q3 2019	QSR Restaurant Brands International	Restaurant Brands International	Sell	-556,761	-3.6%	$1.07M	15,084,304